Teleflex Incorporated (NYSE:TFX) Position Increased by Principal Financial Group Inc.

Principal Financial Group Inc. boosted its position in shares of Teleflex Incorporated (NYSE:TFX) by 2.7% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 80,409 shares of the medical technology company’s stock after purchasing an additional 2,086 shares during the period. Principal Financial Group Inc. owned 0.17% of Teleflex worth $19,887,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of TFX. Texas Permanent School Fund Corp lifted its holdings in shares of Teleflex by 1.6% during the 1st quarter. Texas Permanent School Fund Corp now owns 9,714 shares of the medical technology company’s stock valued at $2,197,000 after buying an additional 152 shares during the last quarter. Envestnet Portfolio Solutions Inc. grew its position in Teleflex by 10.7% in the first quarter. Envestnet Portfolio Solutions Inc. now owns 1,648 shares of the medical technology company’s stock worth $373,000 after acquiring an additional 159 shares in the last quarter. Quantbot Technologies LP bought a new stake in Teleflex in the first quarter worth approximately $537,000. SG Americas Securities LLC increased its stake in shares of Teleflex by 415.3% during the 1st quarter. SG Americas Securities LLC now owns 6,920 shares of the medical technology company’s stock worth $1,565,000 after purchasing an additional 5,577 shares during the last quarter. Finally, Sei Investments Co. raised its holdings in shares of Teleflex by 22.0% during the 1st quarter. Sei Investments Co. now owns 23,012 shares of the medical technology company’s stock valued at $5,205,000 after purchasing an additional 4,156 shares in the last quarter. Hedge funds and other institutional investors own 95.62% of the company’s stock.

Insider Buying and Selling

In other Teleflex news, Director Stuart A. Randle sold 2,674 shares of the company’s stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $238.93, for a total value of $638,898.82. Following the completion of the transaction, the director now owns 5,496 shares of the company’s stock, valued at $1,313,159.28. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 1.43% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. Mizuho lowered their target price on shares of Teleflex from $275.00 to $250.00 and set a “neutral” rating on the stock in a research report on Friday, November 1st. Truist Financial reiterated a “hold” rating and set a $227.00 price target (down previously from $255.00) on shares of Teleflex in a research note on Monday, November 4th. Royal Bank of Canada cut their price objective on Teleflex from $275.00 to $245.00 and set an “outperform” rating on the stock in a research note on Friday, November 1st. Needham & Company LLC reaffirmed a “hold” rating on shares of Teleflex in a research report on Friday, November 1st. Finally, Stephens increased their price target on Teleflex from $275.00 to $290.00 and gave the company an “overweight” rating in a report on Friday, August 2nd. Three equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, Teleflex has a consensus rating of “Moderate Buy” and an average target price of $259.25.

Teleflex Stock Performance

Shares of NYSE TFX opened at $193.98 on Thursday. Teleflex Incorporated has a 12 month low of $193.49 and a 12 month high of $257.85. The company has a market cap of $9.01 billion, a P/E ratio of 38.56, a P/E/G ratio of 2.00 and a beta of 1.18. The business’s 50 day moving average is $233.46 and its two-hundred day moving average is $223.73. The company has a quick ratio of 1.39, a current ratio of 2.42 and a debt-to-equity ratio of 0.37.

Teleflex (NYSE:TFX) last announced its earnings results on Thursday, October 31st. The medical technology company reported $3.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.38 by $0.11. Teleflex had a net margin of 7.85% and a return on equity of 14.19%. The business had revenue of $764.40 million for the quarter, compared to analyst estimates of $768.68 million. During the same quarter in the previous year, the firm posted $3.64 earnings per share. Teleflex’s revenue was up 2.4% compared to the same quarter last year. On average, equities analysts expect that Teleflex Incorporated will post 13.98 EPS for the current year.

Teleflex Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 15th will be paid a $0.34 dividend. This represents a $1.36 annualized dividend and a dividend yield of 0.70%. The ex-dividend date is Friday, November 15th. Teleflex’s payout ratio is presently 27.04%.

Teleflex Company Profile

Teleflex Incorporated designs, develops, manufactures, and supplies single-use medical devices for common diagnostic and therapeutic procedures in critical care and surgical applications worldwide. The company provides vascular access products that comprise Arrow branded catheters, catheter navigation and tip positioning systems, and intraosseous access systems for the administration of intravenous therapies, the measurement of blood pressure, and the withdrawal of blood samples through a single puncture site.